Former Founders Fund GP Brian Singerman and Lee Linden of Quiet Capital are raising over $500 million for a new fund called GPx. A portion of the fund may come from Peter Thiel. GPx will invest in emerging VCs targeting pre-seed and seed-stage startups, as well as partner with emerging managers on later-stage investments.

GPx’s strategy differs from traditional VC firms by partially adopting a fund-of-funds model. Singerman and Linden believe their personal brands and unique networks will attract limited partners. They aim to support early-stage companies and co-lead later-stage investments in successful portfolio companies of emerging managers.

With GPx’s capital, emerging funds can exercise pro-rata rights and lead later-stage rounds, addressing the issue of maintaining ownership in top-performing companies. Singerman and Linden are betting on the next generation of VC investors who prefer smaller, specialized outfits over larger firms.

The Information previously reported Singerman and Linden’s launch of GPx but did not provide specific details. Singerman and Linden have not commented on their new fund. Peter Thiel is reportedly involved with GPx, reflecting growing interest in the venture capital space.

Read more at Yahoo Finance: Brian Singerman is raising over $500M for a new fund with a twist on the VC model